The Memphis Grizzlies signed point guard Mike Conley to a contract extension late Monday night, according to his agent and father, Mike Conley Sr. Conley Sr., who along with Bill Duffy represents his son, would not specify the terms of the contract. But other sources with knowledge of the situation said the deal is worth $45 million over five years.

“Did I envision that Mike would play like this? Yes,” Conley Sr. said in a telephone interview on Monday. “But I did not have confidence that the Grizzlies would embrace him like they have with this contract. The first thing I told them when we began negotiating was that I didn’t want to go further with these discussions unless Mike was their guy. They said he’s their guy.” Conley’s signing came just minutes before Monday’s 11:59 p.m. ET deadline for 2007 draft picks to sign contract extensions. With teams reluctant to sign players because of the uncertainty of the league’s next collective bargaining agreement, Conley became only the fourth player from his class to receive an extension.